Sen. Christopher Dodd
Senate Banking Committee Chairman Christopher Dodd is seeking an explanation from the SEC as to why it failed to detect Bernard Madoff’s $50 billion Ponzi scheme. Bloomberg reports that Dodd has requested information from the SEC about the case.
Dodd’s spokesperson, Kate Szostak, stated yesterday that “Senator Dodd is concerned not only about the people caught up in this reported scheme who may have been misled, but how such a massive fraud could have gone undetected.”
